Estonia-based cryptocurrency exchange Dx.exchange (DX) has announced a revolutionary new product to tokenize the stock market on the blockchain.
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“By tokenizing stocks of some of the biggest publicly traded companies like Google, Amazon, Facebook and more, DX is opening an untapped market of millions of old and new traders around the globe cutting out the middleman,” said Daniel Skowronski, DX Exchange CEO.
— DX.Exchange (@DXdotExchange) December 23, 2018
The new product will attempt to bridge the gap between cryptocurrencies and real world stocks. Trading stocks on DX will even be available after the closing bell.
DX utilizes the Ethereum blockchain and ERC-20 to tokenize the stocks which will be backed 1:1 by the physical assets.
“The crypto community has been talking about tokenizing assets for well over a year now without much progress, so we think the impact will be huge,” Skowronski stated.
“Tokenizing securities is the first true use case where crypto collides with the real world 24 hours a day, 7 days a week. With fractional ownership and no leverage like CFDs, these new digital stocks are a more sound and safer investment that traders can take home in their wallet. This is the future of securities not just new issues but all the thousands of listed securities around the globe.”
The exchange is expected to launch its service January 7th.